California State Teachers Retirement System Decreases Position in The Toro Company (NYSE:TTC)

California State Teachers Retirement System lessened its stake in The Toro Company (NYSE:TTC - Free Report) by 3.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 155,361 shares of the company's stock after selling 5,406 shares during the period. California State Teachers Retirement System owned about 0.16% of Toro worth $12,444,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TTC. Fifth Third Bancorp grew its stake in shares of Toro by 270.5% in the fourth quarter. Fifth Third Bancorp now owns 4,717 shares of the company's stock valued at $378,000 after buying an additional 3,444 shares in the last quarter. KBC Group NV boosted its holdings in Toro by 945.5% during the 4th quarter. KBC Group NV now owns 82,111 shares of the company's stock valued at $6,577,000 after acquiring an additional 74,257 shares during the period. Pacer Advisors Inc. grew its position in Toro by 0.8% in the 4th quarter. Pacer Advisors Inc. now owns 15,298 shares of the company's stock valued at $1,225,000 after acquiring an additional 120 shares in the last quarter. Willis Investment Counsel increased its stake in Toro by 10.8% during the fourth quarter. Willis Investment Counsel now owns 4,548 shares of the company's stock worth $364,000 after purchasing an additional 445 shares during the period. Finally, Boston Trust Walden Corp lifted its position in shares of Toro by 3.6% during the fourth quarter. Boston Trust Walden Corp now owns 334,132 shares of the company's stock worth $26,764,000 after purchasing an additional 11,549 shares in the last quarter. Hedge funds and other institutional investors own 87.95% of the company's stock.

Toro Stock Down 1.6%

NYSE TTC traded down $1.19 on Monday, hitting $74.59. 1,075,156 shares of the stock were exchanged, compared to its average volume of 952,242. The Toro Company has a fifty-two week low of $62.34 and a fifty-two week high of $100.93. The company has a 50-day moving average price of $70.96 and a 200-day moving average price of $77.62. The company has a quick ratio of 0.74, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The company has a market cap of $7.45 billion, a PE ratio of 18.60 and a beta of 0.83.

Toro Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, June 17th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.04%. Toro's payout ratio is currently 38.87%.

Analyst Ratings Changes

TTC has been the subject of a number of research reports. Northland Capmk upgraded shares of Toro from a "hold" rating to a "strong-buy" rating in a report on Friday, February 21st. Robert W. Baird dropped their price target on shares of Toro from $88.00 to $84.00 and set a "neutral" rating for the company in a research note on Friday, March 7th. DA Davidson reduced their price objective on Toro from $86.00 to $80.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. Northland Securities upgraded Toro from a "market perform" rating to an "outperform" rating and set a $100.00 target price for the company in a report on Monday, February 24th. Finally, Wall Street Zen cut Toro from a "buy" rating to a "hold" rating in a research note on Tuesday, March 18th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $89.75.

Toro Profile

The Toro Company designs, manufactures, markets, and sells professional turf maintenance equipment and services. It operates through two segments: Professional and Residential. The Professional segment offers turf and landscape equipment products, including sports fields and grounds mowing and maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, and other maintenance equipment; rental, specialty, and underground construction equipment, such as horizontal directional drills, walk and ride trenchers, stand-on skid steers, vacuum excavators, stump grinders, turf renovation products, asset locators, pipe rehabilitation solutions, materials handling equipment, and other after-market tools; and snow and ice management equipment, such as snowplows, as well as stand-on snow and ice removal equipment, such as snowplow, snow brush, and snow thrower attachments, salt and sand spreaders, and related parts and accessories for light and medium duty trucks, utility task vehicles, skid steers, and front-end loaders.